Afreximbank Boosts Africa’s Trade Potential.

Sunday 20th April 2025

Prof. Benedict Oramah, President and Chairman of the Board of Directors, Afreximbank (front row, seventh from left) H.E. Dr Mohamadou Labarang Dean of the African Ambassadors’ Group, Egypt (sixth from left), Mr. Tamer Taha, Adviser to the Minister of Planning, Economic Development and International Cooperation, Arab Republic of Egypt (eight from left), Mrs. Kanayo Awani, Executive Vice President of Intra-African Trade and Export Development at Afreximbank (fourth left) with Ambassadors from various African countries during the Focus Africa event.

Por inAfrika Reporter

The African Export-Import Bank (Afreximbank), in collaboration with Egypt’s Ministry of Planning, Economic Development and International Cooperation and the Group of African Ambassadors in Cairo, hosted the first-ever FOCUS Africa Trade and Investment Forum in Cairo. Held from April 15 to 16 at the Dusit Thani Hotel, the forum aimed to address Africa’s key investment challenges and highlight high-impact opportunities across sectors including agribusiness, energy, logistics, tourism, and the blue economy.

FOCUS Africa brought together policymakers, business leaders, and investors to explore ways of increasing both African direct investment (ADI) and foreign direct investment (FDI). The forum featured bankable projects designed to attract capital and fill Africa’s estimated $130–$170 billion annual infrastructure financing gap. Despite its potential, Africa currently attracts only 3% to 4% of global FDI.

Speaking at the forum, Dr. Rania Al-Mashat, Egypt’s Minister of Planning, said Africa stands at a turning point, with a population of 1.4 billion and a combined GDP of over $3.1 trillion. She emphasized the potential of the African Continental Free Trade Area (AfCFTA), calling it the world’s largest free trade zone. However, she noted that intra-African trade remains low only 15% of total trade on the continent making it urgent to boost internal market activity.

Dr. Al-Mashat explained that Egypt is making significant strides to attract investment through regulatory reforms, a stable fiscal environment, and a clear government roadmap. As a result, private investments now represent 63% of all investments in the country. She added that by 2030, Egypt aims to attract $60 billion in FDI and raise annual exports to $145 billion by leveraging its strategic location and industrial base.

Prof. Benedict Oramah, President of Afreximbank, noted that while globalisation is declining, Africa has a chance to look inward. He pointed out that with the AfCFTA, Africa can build its own internal engine for growth and connect with the African diaspora and global markets from a position of strength. He stressed that if the continent can unify its $3 trillion economy, rich resource base, and diverse business ecosystem, it can reshape its own destiny.

The Dean of the African Ambassadors’ Group, Dr. Mohamadou Labarang, called on the Middle East’s business community to recognize the growing investment potential in Africa. He stressed that success would come not from aid, but from partnerships focused on mutual growth and long-term impact. “Africa is changing,” he said, citing new opportunities in agro-processing, pharmaceuticals, mining, and infrastructure that need the right investment partnerships to become reality.

Mrs. Kanayo Awani, Executive Vice President for Intra-African Trade at Afreximbank, said the continent’s infrastructure gap is holding back its growth and global competitiveness. She emphasized the importance of scaling Engineering, Procurement, and Construction (EPC) models to build modern infrastructure and boost trade. Through local capacity building, financing tools, and strong partnerships, Afreximbank aims to support African companies in delivering world-class infrastructure.

Awani added that Africa must shift from isolated successes to a collective approach, using the right tools, capital, and leadership to support a larger transformation. Through its Intra-African EPC Contract Promotion Initiative, Afreximbank is promoting African-led development and reducing reliance on external partners.

The FOCUS Africa forum aims to accelerate this shift by facilitating business-to-business and business-to-government partnerships, strengthening the private sector, and aligning efforts with AfCFTA goals. By connecting key stakeholders and promoting access to tailored financial solutions, the forum marks a critical step toward Africa’s goal of self-reliant economic growth and increased global competitiveness.